8.1 Learning Outcomes:
- Explain what determines the level of economic development of a nation.
- Recognize current trends regarding foreign direct investment (FDI) in the world economy.
- Explain the different theories of FDI.
- Describe the different levels of regional economic integration.
- Understand the economic and political arguments for regional economic integration.
- Explain the history, current scope, and future prospects of the world’s most important regional economic agreements.
8.2 Action Required:
Go through the following link:
8.3 Test your Knowledge (Question):
- Describe the situations when licensing is not a good option for a firm.
- What prompted the formation of the European Union? Discuss.
Students are to answer the given question in Discussion Board.